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How to Start a Successful Business from Home 1/3 – Deciding if it’s really for you

How to Start a Successful Business from Home 1/3 – Deciding if it’s really for you

In this series, we look at what you need to know about starting your own successful business from the comfort of your own home. In the first installment, we’ll consider the very important matter of whether it’s actually the right option for you.

Running a business can seem glamorous and exciting, but it’s also very hard work, and it requires a very specific mindset. Not everyone is cut out to be an entrepreneur. So without further ado, let’s look at what you should be considering.

Do you have the practical skills?

When you’re getting started, you probably won’t have the cash to outsource many of your tasks. You’ll be a one-man band, and that means that you have to be able to do pretty much everything on your own. Carefully consider whether you’ve got the skills to deliver high quality products or services to your target market. So, suppose you’re thinking about becoming a copywriter. Will you be able to churn out masses of strong content that gets results for your clients? You can of course learn new skills, and your previous work experience will stand you in good stead. Even trainee jobs could have taught you a lot, but always make sure you’re up to speed before rushing in feet first.

Do you have the personal traits?

After the initial honeymoon period has worn off, you’re in for one of the toughest challenges of your life. Not having a boss breathing down your neck, for example, might seem like a dream come true, but can you really force yourself to get out of bed at 6 am or work well into the small hours when you have deadlines looming? Business owners need tremendous amounts of motivation. In addition to this, you’ll need to be resilient and prepared to deal with your fair share of knock-backs.

Can you deal with the uncertainty of self-employment?

It takes time to build a business, and the reality of the situation is that you probably won’t be making much cash in the early days. When you have a mortgage and bills to pay, this can be problematic. It requires strict budgeting, and possibly a very understanding and supportive partner. It takes a certain type of person to be able to cope with these circumstances, and you need to think about whether you’re happy to live through uncertain times while pursuing your goals.

There’s no doubting that fact that entrepreneurship sounds appealing at first glance. The chance to do work that you love on your own terms is something that so many people dream of. Before taking the plunge though, think long and hard about these areas that we’ve outlined. They’ll help you to make a more informed decision.

In the next installment of the series, we’ll look at what opportunities are available to budding entrepreneurs.

This article was brought to you by Ruth Hinds on behalf of AllTheTopBananas. ATTB allows you to search for and browse through UK jobs in one place, from London engineer jobs to Liverpool receptionist jobs. You can also upload your CV to increase your chances of being headhunted.